Tex. Lab. Code § 203.258

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 203.258 - Excess Revenue Collections and Investment Earnings

Revenue collected from the unemployment obligation assessment in any year that exceeds the amount of the bond obligations and bond administrative expenses payable in that year and interest earned on the obligation trust fund may, in the discretion of the commission, be:

(1) used to pay bond obligations payable in the subsequent year, offsetting the amount of the assessment that would otherwise have to be levied for the year under this subchapter;

(2) used to redeem or purchase outstanding bonds;

(3) deposited in the unemployment compensation fund; or

(4) used to pay principal and interest on advances from the federal trust fund.

Tex. Lab. Code § 203.258

Added by Acts 2003, 78th Leg., ch. 317, Sec. 5, eff. 6/18/2003; Acts 2003, 78th Leg., ch. 817, Sec. 6.05, eff. 6/20/2003.